Banc One Corp. and its subsidiary, First USA Bank, have introduced a private-label credit card that auto dealerships can offer customers who want to finance car repairs and accessories.
The card, CarCareOne, was unveiled at the National Automobile Dealers Association convention. It has no annual fee and allows interest-free grace periods ranging from 25 days to one year, depending on the amount of the purchase.
After the grace period, the interest rate is prime plus 14.73%, currently 23.23%.
Cardholders are eligible for free 24-hour emergency roadside assistance.